Regulation 116 Establishment of the Pension BoardF1

The Department may designate the Committee as the Board.

The Board shall include employer representatives and member representatives in equal number.

Where paragraph (1) applies the designation will be subject to such conditions as the Department thinks fit.

The Department may withdraw the designation under paragraph (1) if such conditions are not met or if in the opinion of the Department it is no longer appropriate for the Committee to be the Board.

Where paragraph (1) applies, the Committee may, with the approval of the Department pay an allowance to the Chairperson and members of the Board in respect of their duties and responsibilities as such and where this allowance is paid it shall be defrayed out of the pension fund.

The expenses of the Board, including out-of-pocket expenses incurred by the Chairperson and members of the Board in connection with the discharge of their duties as such, shall be defrayed out of the pension fund.

Where regulation 116(1) does not apply the Committee shall establish the Board.

The Board established under paragraph (7), shall consist of—

The number of members appointed under paragraph (8)(b) shall equal the number of members appointed under paragraph (8)(c).

There shall be no less than 6 and no more than 11 members of the Board established under paragraph (7).

Where paragraph (7) applies, the Committee may determine the procedures applicable to the Board and the payment of allowances and expenses.

The payment of allowances and expenses of the Board established under paragraph (7) shall be defrayed out of the pension fund.